Fort Walton Beach Trust Attorneys

Personalized Trust Planning in Okaloosa County & Northwest Florida

Deciding how your assets will be managed and distributed after you pass away can bring up difficult conversations and complex choices. Many people delay estate planning because it feels too confusing or intimidating. Protecting your home, savings, and lifetime achievements requires trusted counsel from our skilled trust lawyers. 

At Cotton & Gates, Attorneys at Law, we provide clear guidance to protect your family’s future. Our attorneys treat your priorities with the personal attention they deserve. Whether you want to avoid probate or protect a relative with special needs, our team can help you structure and manage a trust that safeguards your legacy. 

Plan for the future with confidence by partnering with our caring trust attorneys in Fort Walton Beach. Call (850) 583-9379 to schedule a consultation.

What Is a Trust? 

A trust is a legal arrangement that allows you to place assets under the management of a trustee for the benefit of one or more beneficiaries. Depending on the type of trust, you may be able to keep control of your assets during your lifetime while creating instructions for how those assets should be managed or distributed later.

Trusts are an effective tool for clients who want to avoid probate, control how and when assets are distributed, or protect assets from creditors and lawsuits. We can draft and structure your trust around your family and long-term goals to protect the people and priorities that matter most to you.

Common Types of Trusts We Handle

Below are some common trust structures we draft and administer:

• A revocable living trust lets you keep control of your assets during your lifetime while providing a plan for what happens after your death. We can help coordinate the trust with other estate planning documents to make sure it fits your situation.
• An irrevocable trust is often used for asset protection, Medicaid planning, or tax strategies. Because these trusts generally offer less flexibility, we can help you weigh the trade-offs before deciding whether one belongs in your estate plan.
• A testamentary trust is created through your will and takes effect after death. We can structure these trusts to manage inheritances for children or other beneficiaries while providing you with greater control over when and how they receive their inheritance. 
• A special needs trust provides for a loved one with a disability without disrupting eligibility for certain means-tested benefits. We can help you structure the trust around the beneficiary's needs while coordinating it with the rest of your estate plan.
• A spendthrift trust places limits on a beneficiary’s access to an inheritance and may provide protection from creditor claims. We can help you determine if this type of trust fits your concerns about a beneficiary’s financial circumstances and future inheritance.

What Is a Lady Bird Deed?

A lady bird deed (also known as an enhanced life estate deed) lets you transfer your home to your beneficiaries automatically at death without probate, while retaining full control during your lifetime. Depending on how the deed is structured, you may retain the ability to sell, mortgage, or revoke the deed without the beneficiaries’ consent. 

For homeowners who primarily want to keep their home out of probate, a lady bird deed can offer a simpler alternative to creating a trust. Our lawyers can advise you on whether a lady bird deed is appropriate for your situation and create a tailored plan that reflects your assets, objectives, and the future you envision for your loved ones.

Post-Divorce Estate Planning: Updating Your Trust in Florida

Finalizing a divorce marks a major transition in your financial and personal life. While you focus on building a new chapter, updating your estate plan is an essential step to safeguard your assets. 

A divorce judgment automatically revokes any provisions in a revocable trust that affect your former spouse (Fla. Stat. § 736.1105). However, relying solely on this statutory rule can create unintended gaps in your estate plan.

Our firm can help you update your trust and coordinate it with your will, beneficiary designations, powers of attorney, and other estate planning documents so your estate plan reflects your new life chapter after divorce.

Over 50 Years of Experience Protecting Panhandle Families

Creating a trust is a long-term commitment for your family’s future. With local roots dating back to 1976, our longstanding presence in Northwest Florida means we understand the unique needs of property owners, business owners, and military families. We focus on building lasting relationships with our clients and providing ongoing support so you can adapt your estate plan as your life evolves.   

Take control of your legacy with strategic trust planning from Cotton & Gates, Attorneys at Law. Contact us online to discuss your case.